Isopropyl Alcohol Market was valued US$ XX Bn in 2018 and is expected to reach US$ XX Bn by 2027, at CAGR of 4.5 % during forecast period of 2019 to 2027.
To know about the Research Methodology:-Request Free Sample Report
Isopropyl alcohol is an isomer of 1-propanol, a colorless liquid with disinfectant properties. Isopropyl alcohol have properties like volatile, colorless liquid with sharp musty odor. It releases acrid smoke and fumes when heated to decomposition. The chemical formula of isopropyl alcohol is C3H8O.
It is used in various purposes at home, in different industrial processes and pharmaceutical applications. The most general product that contains isopropanol is rubbing alcohol, containing 70% isopropanol or ethanol. It is used in the production of a wide variety of industrial and household chemicals. It is also a common ingredient in chemicals such as detergents, antiseptics, and disinfectants.
The report study has analyzed revenue impact of covid-19 pandemic on the sales revenue of market leaders, market followers and disrupters in the report and same is reflected in our analysis.
Isopropyl Alcohol Market Drivers and Restrains
The Isopropyl Alcohol Market has witnessed considerable growth in recent years because of growth in disposable income, rapid urbanization. The Isopropyl Alcohol Market has become more competitive and price-sensitive because of the high potential and steady growth of the Isopropyl Alcohol Market. The long-term growth of the isopropyl alcohol market is expected to endure positive, driven by socio-economic factors such as increasing disposable income, population growth, rapid urbanization, and economic growth worldwide.
This socio-economic catalyzing the growth of various downstream industries includes paints and coatings, pharmaceuticals, automotive, and cosmetics industry. Furthermore, the growth in chemical production particularly in the countries like India, China, the US, Brazil, and South Africa is expected to be another key driver for increase in the demand for isopropyl alcohol for solvent applications. The United States is the largest consumer of Isopropyl Alcohol.
The increasing per capita disposable income and better-quality standards of living of the people globally are expected to boost the demand for various cosmetics and personal care products, which in turn is expected to propel the requirement for isopropyl alcohol as a solvent in various manufacturing processes. The market price of isopropyl alcohol of reagent grade (ACS) US$ 20.16 per liter.
Additionally, the vigorous growth of the pharmaceutical and healthcare industries is considered to be another factor driving the growth of the isopropyl market. This rapid growth in automotive production and sales is expected to drive the growth of isopropyl alcohol market during the forecast period. Moreover, the increasing demand for coatings and paints from the automotive industries and construction is expected to drive the ultimatum for isopropyl alcohol as a raw material during the forecast period.
Isopropyl Alcohol Market Segmentation Analysis
Isopropyl alcohol market is segmented in terms of application, end-user industry and region. On the basis of application, the isopropyl alcohol market can be divided into solvent, cleaning agent, intermediate, coating solvent, and others. Isopropyl alcohol dissolves a wide range of non-polar compounds. It also vaporizes quickly and leave slight amount of oil traces compared to ethanol. It is comparatively non-toxic compared to other solvents. Therefore, isopropyl alcohol is used widely as a cleaning fluid and solvent, specifically for dissolving oils.
Based on end-use industry, the isopropyl alcohol market is segmented into pharmaceutical, food & beverages, paints & coatings, personal care & cosmetics, and chemical. Isopropanol is used in lotions and soaps as an antiseptic. In the food & beverages industry, it is used for the extraction and purification of natural products, such as vegetable and animal oils and fats, gums resins, waxes, colors, flavorings, alkaloids, vitamins, kelp and alginates. It is also used as carrier solvent in the production of food products. Based on region, it is studied across Asia Pacific, North America, Europe, Latin America and Middle East Africa.
Isopropyl Alcohol Market Regional Analysis
On the basis of region Isopropyl Alcohol market divided into five region such as Asia Pacific, North America, Europe, Latin America, and Middle East Africa. Among all the regions, the North America and Asia Pacific had the largest market share in 2018 and is projected to lead the market during the forecast period, by reason of high demand from numerous industries such as pharmaceuticals, personal care and cosmetics, and chemicals. China is projected to be the largest and fastest-growing market in Asia-Pacific, followed by India and Japan.
North America is expected to the second-largest market for isopropyl alcohol market because of sensible growth during the forecast period driven by increasing chemical and pharmaceutical industry in the United State. Also, the market in Europe is projected to witness stable growth during the forecast period, as a result of increasing investment in healthcare and pharmaceuticals industry and increasing construction activities in the non-residential construction in the Eastern European region.
The objective of the report is to present comprehensive analysis of Isopropyl Alcohol Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of industry with dedicated study of key players that includes market leaders, followers and new entrants by region. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors by region on the market have been presented in the report.
External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give clear futuristic view of the industry to the decision makers. The report also helps in understanding Isopropyl Alcohol Market dynamics, structure by analyzing the market segments, and project the Isopropyl Alcohol Market size. Clear representation of competitive analysis of key players by Isopropyl Alcohol Type, price, financial position, product portfolio, growth strategies, and regional presence in the Isopropyl Alcohol Market make the report investor’s guide.
For More Information Visit :
Scope of the Isopropyl Alcohol Market: Inquire before buying
Isopropyl Alcohol Market, by Application
• Process Solvent
• Cleaning Agent
• Coating Solvent
• Other Applications
Isopropyl Alcohol Market, by End-user Industry
• Cosmetic and Personal Care
• Food and Beverage
• Paints and Coatings
• Other End-user Industries
Isopropyl Alcohol Market, by Region
• Asia Pacific
• North America
• Latin America
• Middle East Africa
Isopropyl Alcohol Market, Major Players
• Exxon Mobil Corporation
• The Dow Chemical Company
• Royal Dutch Shell Plc
• Clariant AG
• Mitsui Chemicals Inc.
• Perrigo Company plc
• China Petroleum & Chemical Corporation
• LyondellBasell Industries N.V.
• INEOS Enterprises
• LG Chem
• Mitsubishi Chemical Corporation
• Deepak Fertilizers and Petrochemicals Corporation Limited.
• BASF SE
• Holdings B.V.
This Report Is Submitted By : Maximize Market Research Company
Customization of the report:
Maximize Market Research provides free personalized of reports as per your demand. This report can be personalized to meet your requirements. Get in touch with us and our sales team will guarantee provide you to get a report that suits your necessities.
About Maximize Market Research:
Maximize Market Research provides B2B and B2C research on 20,000 high growth emerging opportunities & technologies as well as threats to the companies across the Healthcare, Pharmaceuticals, Electronics & Communications, Internet of Things, Food and Beverages, Aerospace and Defense and other manufacturing sectors.